The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-12-31
THE BANKING BUSINESS.

Indianapolis Stands Fourth in Greatest In
crease of Clearances During the Year.
The money transactions during the year have
been such to make the BANKERS feel comforts
BILE in drafting their annual exhibits. The dol
lars not 50 plentiful as to move their hodert
to give them away, but until the last sixty days
they could be had at per cent About a month
or two before the end of the year money is al.
ways close, particularly at this time, when
the banks are holding to pay ont dividends.
There is not a stakeholder in Indianapolis
bank said one of them yesterday, who will
not be able to eat turkey on New Years day. II
has been a good year for
the clearing house will show" AS to clearances
they have been larger than ever. 80 per cent.
being regarded low estimate of increase. In
some weeks during the year the increase WENT No
to 62 per cent, and never dropped lower than 20.
The heaviest were six weeks ago. when lares
amount of money due to natural-gas interests
was going into the banks. With all this pros
porous flow of dollars there has not been a
pie, except wnen they began to tighten under
certain local influences. Then the rate advanced
to per cent, and remained at that figure until
now when it is impossible TO get it for less eth
er in large or small amounts BUTT did not inter-
fere with general prosperity, for what the bank
enjoyed the merchants, brokers and manu-
facturers furnished without causing any appre-
ciable embarrassment.
Had the summers drought not brought ruin
to the corn, aad otherwise affected the farmers
near at home money would have been little
easier. A great deal that has been paid him here
tofore for grain and vegetables has gone TO other
places for market and mlllers supplies. Again
he has been compelled to feed his hogs on food
obtained on credit Last year he had plenty of
corn. and did not suffer this stress This fail
he has been PEELED to go to the mills for bran
with which to make slops. Not many months
ago he could get all the bran he wanted at 50 per
ton. This year he has to pay Sl8. and have
that due in other accounts caused by
the drought will not reach our banks from
great share of the wheat, too, has gone out of
the reach of millers here. 1t went East. and
the money the producer got for 1t was used In
making both ends meet 1t did not go into the
banks either from him or the local miller, as 1t
would have done had the wheat been sold here.
good part of this is attributable to the inter
state law, which is charged in another respect
with taking money from the local banks The
grain-br okers go into the producing regions and
ship TO the seaboard direct hence mere Is not
much grain usual n the elevators here,
much money paid into ana out or the
banks on that account
But all this has been, to a degree, offset by
favorable conditions brought about by the sub
stantial business the several industries have
done There has been speculation, and
while there was squirt last spring under the
early possibility of having natural gas, il passed
awav aud financial transactions took again the
character of steady going, conservative policy.
The bank failures made it impossible for any recS
loss spirit OF risk to find encouragement. for the
bankers have shown no liberality IN their dis
counts. But they felt the effects more strongly
than the year peIore OF returning conHoeuce- -
large amount of money that has been hid away
in cellars and stockings came 10
the surface and deposited along
with other money that was less
timid. When it went out of the banks on pa
per. matter how good. the merchants and
manufacturers felt the new order OF business
much that they. too. held their customers r;cre
strictly to cash terms. Building associations
contributed largely TO the money supply Tn-ss
institutions have become popnlar FOR sa wings
that in Indianapolis fully Sl,090.d00 annually
passes through them into the banks heretofore
this money was carried in the pockets. really To
come cut as "A passing within or fancy dictated.
There is very little investment by people here
abouts in outside railroad or real estate securi-
ties That keeps a large amount of money at
home which has served 70 lessen the pressure
droughts other causes may bring about
The banks lave had all the money they could
use and there has never been 8 time whom tns